HUNTSVILLE, Alabama – Alabama Commerce Secretary Greg
Canfield said Remington Arms intends to spend about $110 million turning the
vacant former Chrysler electronics plant near Huntsville International Airport
into a state-of-the-art firearms production facility that could open in early 2015.

Here's a quick look at what incentives the state, the cities of Huntsville and Athens, plus Madison, Limestone and Morgan counties have agreed to kick in to
land the more than 2,000 jobs associated with Remington's first gun plant in
the Southeastern U.S.

The total investment by state and local governments is $68.9 million:

Alabama: According to a news release, the state will provide $38.3 million
to assist Remington in retrofitting and equipping the 843,000-square-foot
former Chrysler plant at the corner of Wall-Triana Highway and Electronics
Boulevard. In addition, the state has pledged to help Remington
recruit and train workers for the Huntsville plant over a 10-year period -- an incentive valued at $15.9M.

"It's a long-term commitment as the project takes shape," Canfield told AL.com following a Monday news conference at the Huntsville-Madison County Chamber of Commerce.

Also,
Remington will receive tax abatements on the non-education share of state and
local property and use taxes for 10 years. "Education is going to win from this," said Canfield.

He said the state in the coming days will begin scouting for space in Huntsville to open a Remington workforce recruitment and training center. Remington should be operational here in about a year, said Canfield, ramping up to "full employment" within six years.

The state says it will also provide $150,000 worth of site preparation work at the future Remington plant.

Huntsville and Madison County: The two governments are teaming up to buy the former Chrysler plant for $10.5 million and provide Remington another $2 million for equipment. Mayor Tommy Battle said Remington will use the factory rent-free for 10 years as long as it meets employment targets included in a development agreement approved Monday afternoon by the City Council.

The city will transfer $9.5 million from its capital fund to cover its share of the incentive package; Madison County commissioners are holding a work session Tuesday to consider a plan to provide $3 million.

Commission Chairman Dale Strong said the county's proposed investment
would pay for itself "hundreds of times over" in the form of 2,000 advanced manufacturing
jobs, new home sales and other spinoff growth from bringing "the world's finest firearms company" to the Rocket City.

"People were wanting more to be done on economic development," said Strong. "I believe we've answered that call. Truly, this is going to be the shot heard round the world."

Athens and Limestone County: The City of Athens, Limestone County Commission and Limestone Economic Development Association are contributing a total of $1 million to the Remington incentive package. The Remington plant will be located just a mile or so east of the Limestone County line.

"It will greatly benefit Limestone County with the creation of new jobs," said County Commission Chairman Stanley Menefee.

Battle said Huntsville's Industrial Development Board will pay Remington $500,000
each time the company hits a key employment milestone. The four
installments totaling $2 million are due when Remington reaches 250,
500, 750 and 1,000 jobs in Huntsville.

Money for that employment bonus is coming from Limestone and Morgan counties and the City of Athens, said Battle.

Updated at 6:53 p.m. to correct the total investment by state and local governments.